XML 32 R23.htm IDEA: XBRL DOCUMENT
v3.25.2

Change in Accounting Estimate for Self-Insured Claims | 6 Months Ended
--- | ---
Jun. 28, 2025
Change in Accounting Estimate for Self-Insured Claims |
(12) | Change in Accounting Estimate for Self-Insured Claims
Landstar provides for the estimated costs of self-insured claims primarily on an actuarial basis. The amount recorded for the estimated liability for claims incurred is based upon the facts and circumstances known on the applicable balance sheet date. The ultimate resolution of these claims may be for an amount greater or less than the amount estimated by management. The Company continually revises its existing claim estimates as new or revised information becomes available on the status of each claim. Historically, the Company has experienced both favorable and unfavorable development of prior years’ claims estimates within its various programs. The following table summarizes the adverse effect of the increase in the cost of insurance claims resulting fro m net u nfavorable development of prior year self-insured claims estimates on operating income, net income and basic and diluted earnings per share set forth in the consolidated statements of income for the twenty-six-week and thirteen-week periods ended June 28, 2025 and June 29, 2024 (in thousands, except per share amounts):
|  | Twenty-Six Weeks Ended |  |  | Thirteen Weeks Ended |
|  | June 28, 2025 |  |  | June 29, 2024 |  |  | June 28, 2025 |  |  | June 29, 2024 |
Operating income |  | $ | 13,641 |  |  | $ | 2,116 |  |  | $ | 2,289 |  |  | $ | 989 |
Net income |  | $ | 10,272 |  |  | $ | 1,606 |  |  | $ | 1,726 |  |  | $ | 747 |
Basic and diluted earnings per share |  | $ | 0.29 |  |  | $ | 0.04 |  |  | $ | 0.05 |  |  | $ | 0.02 |
The unfavorable development of prior years’ claims during the twenty-six-week period ended June 28, 2025 was primarily attributable to elevated cargo loss experience as a result of fraud and theft in the supply chain and several specific commercial trucking claims.

X
- Definition The entire disclosure for reporting change in accounting estimate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-4 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1 + Details
Name: | us-gaap_ChangeInAccountingEstimateTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration